Overview of GAME2 Coin
GAME2 is a cryptocurrency utilized within a blockchain-based gaming ecosystem. GAME2 coin supports various economic activities, such as players buying and selling in-game items and game developers selling their content. The coin was created to ensure proof of ownership and transparency in transactions of in-game items, aiming to establish a decentralized gaming economy.
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Current Price and Chart Analysis
Current Price: 6.364 KRW
24-hour Change: -5.41% (-0.364 KRW)
24-hour Trading Volume: 323,142,950 GAME2
24-hour Trading Value: 2,165,521,848 KRW
Recent High: 6.720 KRW
Recent Low: 6.353 KRW
Chart Analysis
Analyzing the 1-hour candlestick chart of GAME2, it shows a sharp decline in price. The current price is 6.364 KRW, reflecting a 5.41% drop over the past 24 hours.
The chart displays consecutive red candles, indicating strong selling pressure. Key resistance levels at this point are the 5-period EMA at 6.6560 KRW and the 20-period EMA at 6.9979 KRW. If these levels are not surpassed, further declines can be expected.
Analysis of Supporting Indicators
EMA(5): 6.6560 KRW
EMA(20): 6.9979 KRW
Both indicators are showing a downward trend, indicating a bearish trend in both the short and medium term. With both EMA(5) and EMA(20) trending downwards, it suggests that the current downtrend is likely to continue.
Key resistance levels at this point are EMA(5) at 6.6560 KRW and EMA(20) at 6.9979 KRW. If these levels are not surpassed, further declines are expected.
Recent Issues and News
Currently, there are no specific issues or news related to GAME2. However, the recent sharp decline is likely due to the overall market downturn and large-scale sell-offs by specific traders. For more detailed information, you can check cryptocurrency news sites or GAME2’s official social media channels.
Comprehensive Evaluation
In the short term, GAME2 coin is likely to continue its downward trend. Considering recent charts and supporting indicators, the selling pressure is strong, and if the key resistance levels are not breached, the downtrend is expected to persist. The support level at 6.300 KRW is crucial, and if it fails, a more significant decline may occur.
In the medium term, a potential rebound should be considered once the downtrend eases. Breaking through the EMA(5) and EMA(20) indicators will be a significant signal for a medium-term rebound. If these indicators are not surpassed, the downtrend is likely to continue. However, if they are breached, a transition to a new upward trend may be possible.
In the long term, the volatility of GAME2 depends heavily on the development progress of the GAME2 project and the overall cryptocurrency market trend. If the GAME2 project develops as planned and the market sentiment turns positive, a long-term rise can be expected. Conversely, if the project faces delays or the overall market remains bearish, a long-term downtrend cannot be ruled out.
Summary Analysis and Recommendations
Short-term outlook: High likelihood of continued downtrend. Focus on the key support level at 6.300 KRW.
Medium-term outlook: Potential for a rebound if the downtrend eases. Watch for breakthroughs of EMA(5) and EMA(20).
Long-term outlook: High volatility depending on the development of the GAME2 project and the overall market trend.
